The Queens County real estate market is currently balanced, with a 5.69-month supply of inventory. This indicates a more stable market compared to Nassau and Suffolk Counties, where low inventory favors sellers. The median sold price for September 2024 was $798,000, a 2.31% increase from the previous month. However, the median estimated property value has seen a slight decrease year-over-year, suggesting a potential stabilization or slight cooling in the market.

Key Market Indicators

  • Months of Inventory: 5.69 (indicates a balanced market)
  • Median Days on Market: 42
  • List-to-Sold Price Ratio: 97.2% (homes are selling slightly below asking price)
  • Median Estimated Property Value: $791,700, down 1.5% year-over-year

These figures suggest a more balanced market in Queens County, where buyers have more negotiating power compared to areas with extremely low inventory.

Market Trends

New Listings

  • Median List Price: $799,000
  • Number of New Listings: 634
  • Median Price Per Square Foot: $679

Active Listings

  • Median List Price: $775,000
  • Number of Active Listings: 2,026
  • Median Days on Market: 81

Pending Listings

  • Median List Price: $778,500
  • Number of Pending Listings: 1,266

Sold Listings

  • Median Sold Price: $798,000
  • Number of Sold Listings: 323

Expert Insight from Educators Realty

Whether you're a buyer or a seller, having expert guidance in a dynamic market like Queens is crucial. Educators Realty, with its in-depth knowledge of the local market, can provide the insights and support you need to make informed decisions. Our experienced agents are committed to helping clients navigate the complexities of the real estate process, from property valuation to negotiation and closing.

Contact Educators Realty today to learn how we can help you achieve your real estate goals in Queens.

Conclusion

The Queens County real estate market offers a more balanced environment for buyers and sellers compared to neighboring counties. While prices remain relatively high, the market is showing signs of stabilization. Buyers may have more room for negotiation, but working with a skilled real estate agent is still essential for success.

Disclaimer: This report is based on data from Realtors Property Resource®, LLC, and is intended for informational purposes only. It is not intended as professional real estate advice.